Remember Nick Wooster? The ditching of codes, promos and sales in favor of everyday low prices? The move to “jcp” from JC Penney?

That was a very, very long time ago.

Seems like that return to their base didn’t work. At least not long term. First there was J. Crew, who has been accused of getting too fashion-y, too fast, breaking under the weight of current stressors. JC Penney tried to get hip, but failed, and went back to the coupon cutters. That didn’t work either.

Days before seeking bankruptcy protection, JC Penney paid nearly $10m in bonuses to top executives. The company said it was “taking necessary steps to retain our talented management team”. – The Guardian

As part of the plan, Jill Soltau, chief executive officer (CEO) of the company received $4.5 million. Separate payments of $1 million were also awarded to Bill Wafford, executive vice president and chief financial officer, Michelle Wlazlo, executive vice president and chief merchant, and Brynn L. Evanson, who is also an executive vice president at the company as well as chief human resources officer. – The Hill